The present study examined the impact of working memory capacity (WMC) on college students' ability to solve probability problems while using a self‐explanation strategy. Participants learned to solve probability problems in one of three conditions: a backward‐faded self‐explanation condition, an example problem pairs self‐explanation condition, or a control (no self‐explanation) condition. Even when accounting for the impact of WMC, learning to problem‐solve using self‐explanation led to superior problem‐solving performance. Conditions that prompted self‐explanation during problem‐solving resulted in significantly better problem‐solving performance than the control condition. These findings provide insight into the influence of individual differences on problem‐solving when strategies are provided, as well as information about the effectiveness of the self‐explanation strategy during mathematical problem‐solving. Copyright © 2016 John Wiley & Sons, Ltd.